HIGHLIGHTS
- Indonesia 10-Year Government Bond Yield : As of April 17, 2025, the yield on the 10-year Indonesia Government Bond stood at 6.943%, slightly lower than the previous day's level of 6.949%. In contrast, the U.S. 10-year Treasury yield increased by 5 basis points to 4.34%.
- Government Bonds Trading Activity : The total trading volume of government bonds amounted to IDR 47.58 trillion, with activity predominantly concentrated in the medium-term tenors (5–15 years). This figure declined from IDR 60.13 trillion recorded in the previous session and also fell below the year-to-date (YTD) average of IDR 48.52 trillion. Outright transactions reached IDR 14.29 trillion, decreasing from IDR 21.61 trillion in the prior day.
- Corporate Bonds Trading Activity : Corporate bond transactions totaled IDR 5.21 trillion, driven mainly by short-term instruments (less than 5 years). The volume increased from IDR 5.01 trillion recorded in the previous session and surpassed the YTD average of IDR 2.81 trillion. Outright transactions stood at IDR 5.20 trillion, also rising from IDR 5.01 trillion the day before.
- Currency, Equity, and Commodity Market Movements : The Rupiah exchange rate against the U.S. Dollar remained unchanged at IDR 16,825. Meanwhile, the Jakarta Composite Index (JCI) rose by 0.60%, from 6,400 to 6,438. In the commodities market, Brent crude oil prices increased from USD 66.34 to USD 67.61 per barrel, while WTI Cushing crude oil prices rose from USD 61.33 to USD 62.47 per barrel.
GLOBAL UPDATES
- The European Central Bank cut interest rates to 2.25%, the seventh time since June, citing escalating trade tensions as a threat to the region’s recovery. President Lagarde warned that worsening global trade conditions may dampen exports, investment, and consumption, while also tightening financial conditions through deteriorating market sentiment. (Bloomberg)
DOMESTIC UPDATES
- Indonesia plans to boost U.S. imports by up to USD19bn—including UDD10bn in energy—to eliminate its trade surplus and avoid a 32% tariff on exports, which has been paused for 90 days. Coordinating Minister Airlangga Hartarto said Indonesia will shift orders away from other countries to prioritize U.S. goods such as wheat, soybeans, soybean meal, and capital goods. Following meetings with U.S. trade officials, both sides aim to conclude negotiations within 60 days. (Reuters)
- Indonesia’s National Economic Council (DEN) plans to launch targeted stimulus to mitigate U.S. tariff impacts, focusing on labor-intensive sectors such as textiles, garments, footwear, furniture, and fisheries—especially shrimp. Vice Chair Mari Elka Pangestu said the government is preparing task forces on employment and deregulation, as U.S. trade negotiations remain uncertain over the next 30–60 days. Coordinating Minister Airlangga Hartarto added that deregulation efforts cover import licensing, tax and customs services, quota rules, and financial sector measures in coordination with OJK and Bank Indonesia. (Bisnis)
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